A great question for all Realtors to ask themselves: Am I "inviting" low offers or am I "selling" high offers.
If I had to guess at the answer the majority of agents would give it would be, "Inviting low offers." Way too many agents are settling for writing-up very low offers. This usually leads to one of several negatives, such as (1) encouraging the buyers to make ridiculously low offers; (2) helps drive down the sale prices; (3) upsets the sellers; and, (4) lost sales and commissions.
What's the cause of this? Simply put agents either don't have the guts or don't know how to turn the situation into a higher offer.
In the Floyd Wickman Program my trainers teach how to get higher offers and through roleplaying the agents develop the confidence to make the attempt. Let me give you a few ideas for getting those higher offers. But be prepared to ask the tough questions. Tough times call for tough agents asking the tough question and being tougher with the buyers just looking to "steal" a property.
1. Always meet with the buyer in advance, prequalify them and prepare them for having to pay full price. "If you find a home today that you like enough to live in are you looking to steal in a a ridiculously low price or are you willing to pay a fair price."
2. Be prepared to substantiate the list price. Not all listings a listed prepared for an offer. Many listings are already listed a bargain price. Have plenty of stats and facts to support the fact that the price is already priced at a bargain.
3. Question the buyers who want to offer less than the list price. Some examples:
"You probably have a good reason for feeling the price is too high, do you mind if I ask what that reason is"?
"If I could prove to you that when you buy this property at it's current price you will be making a terrific investment, would you be willing to pay this price."
"most experts would agree that if you like the home and can afford the home you should buy it while prices are still low rather than risk losing the home you like."
"Let me give you some reasons why it would not be in your best interest to offer too low a price."
4. Prepare the low-offer buyers for having to pay more. "I will present this offer but I truly believe you will have to pay more than this price if you really want the property, so please think about what your absolute highest price will be."
Get tougher. Close more sales. You'll be proud of the results.
Love you all,